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Burgess COMMENTARY

Peter Burgess

The Future of Money: Mobile Payments | Mobile Banking | Mcommerce | Mobile Money Transfer
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Why Twitter Buying MoPub Is a Very Big Deal medium.com

Full disclosure: I’m a former Facebook product manager and was creator and builder of Facebook Exchange (FBX), Facebook’…

I am impressed ... and maybe a little depressed ... by the technology that has been developed and deployed in the main so that every human being on the planet can be exploited to the maximum to make profit for an enterprise and its investors.

For someone who was at the cutting edge of data processing technology in 1966 when I installed a mainframe computer with 4K of main memory ... all of what is now possible is pretty exciting.

I believe the really big challenge now is to figure out how the amazing technology that now exists can be used to do something worth a damn for society and the global economy so that there is true progress with quality of life for people being improved and the ecological stress on the planet reduced.

Many ... not all ... of the things that really need doing cannot make conventional money profit that satisfies investors and capital markets. I argue, however, that these things are worth doing, and there should be metrics that are as rigorous as money profit accounting to report on the impact of economic activity that uses resources to try to address these issues.

My work with a multi-dimension impact accounting system may be a step in the right direction. I hope so. The money resources are available to set the stage for a future that is very good, but this is not happening and cannot happen under the tyranny of money profit maximization together with stock price maximization and GDP growth as the policy solution to everything economic.

Peter Burgess TrueValueMetrics